Piper Sandler Cuts MARA (NASDAQ:MARA) Price Target to $30.00

MARA (NASDAQ:MARA) had its price target trimmed by Piper Sandler from $34.00 to $30.00 in a report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

A number of other brokerages have also recently commented on MARA. JPMorgan Chase & Co. raised MARA from an “underweight” rating to a “neutral” rating and increased their target price for the company from $12.00 to $23.00 in a report on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of MARA in a report on Thursday, February 27th. Macquarie increased their target price on MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, November 18th. B. Riley increased their target price on MARA from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Compass Point cut MARA from a “buy” rating to a “neutral” rating and increased their price target for the company from $21.00 to $25.00 in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, MARA has a consensus rating of “Hold” and a consensus price target of $23.78.

MARA Stock Performance

NASDAQ MARA opened at $15.12 on Monday. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 19.14 and a beta of 5.76. MARA has a twelve month low of $12.05 and a twelve month high of $30.28. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $17.28 and a 200 day moving average of $18.43.

MARA (NASDAQ:MARA) last released its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $1.56. The company had revenue of $214.39 million during the quarter, compared to analysts’ expectations of $187.11 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. Sell-side analysts anticipate that MARA will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.31, for a total transaction of $255,677.00. Following the completion of the transaction, the chief financial officer now directly owns 1,773,788 shares in the company, valued at $27,156,694.28. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $23.50, for a total value of $646,367.50. Following the transaction, the chief executive officer now owns 4,128,090 shares of the company’s stock, valued at approximately $97,010,115. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,915 shares of company stock worth $2,289,443. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of MARA by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider’s stock worth $650,390,000 after buying an additional 2,706,271 shares during the period. Geode Capital Management LLC boosted its holdings in MARA by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider’s stock valued at $128,755,000 after purchasing an additional 518,503 shares during the period. American Century Companies Inc. boosted its holdings in MARA by 44.3% in the fourth quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider’s stock valued at $67,749,000 after purchasing an additional 1,240,354 shares during the period. Northern Trust Corp boosted its holdings in MARA by 18.1% in the fourth quarter. Northern Trust Corp now owns 3,293,531 shares of the business services provider’s stock valued at $55,233,000 after purchasing an additional 504,142 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in MARA by 14.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider’s stock valued at $50,787,000 after purchasing an additional 372,094 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

About MARA

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.